Is 1.17 the Near-Term Bottom for the Euro?

The euro went from the sub 1.04 level to as high as near 1.21 against the U.S. dollar this year.

That was a whopping 1700 plus pips advance, or 16% plus appreciation against the U.S. dollar. 

The euro’s performance has been rather strong against the U.S. dollar since the beginning of 2017.   It finally entered the correction phase in early September.  The correction was quite narrow, which was within a 400-pip range.  It seems to hold above 1.17 quite well thus far. 

Are the bulls ready to pick up the trend and run?

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